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Why are the oil prices getting higher and higher?
Why are the oil prices getting higher and higher?
From Dar Al Hayat
The Role of National Oil Companies in Today's World
Analysts point out that a cause of the record levels prices have reached in world oil markets and the increasing interest in energy security and other issues was the structural changes in both the demand and supply of oil.
They refer to the fact that the shift in demand from the industrialized countries to the rapidly growing countries, like China and India, and the focus of world oil demand on the transport sector on the one hand, and the decline in output growth outside the Organization of Petroleum Exporting Countries (OPEC), particularly the Middle East, on the other hand, gave prominence to the oil markets today more than it had in the past decades.
But there is a change that is important for the present, and which has its implications for the future. This change, often ignored, is the growing role of the national oil companies in the balance of global energy and in the management and stability of the market.
Originally
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ReBlogged by silvia on Jul 19, 2006 at 11:11 AM
Posted by silvia on Jul 19, 2006 at 11:11 AM
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